Crude Oil Jumps as US Reps Pass Contested Debt Bill

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the

By Carl Ndukwe The Nigerian Senate does get quite a telling from the citizenry, and sometimes they very well deserve it. However, there are also many things, when they do, make the people proud. So, as we take stock of the year, here are some of those memorable bills through which our Senators have demonstrated that their service and fealty do indeed rest on the interests and wishes of the people. 1: Passage of the #NotTooYoungToRun Bill Here we saw a Nigerian Senate that not only listens but also has it finger on the pulse of the people. By passing

By Adedapo Adesanya The federal government has disclosed that plans were on the way for the partial commercialisation of the Nigerian Postal Service (NIPOST) in 2020. Post Master General/Chief Executive Officer of NIPOST, Mr Bisi Adegbuyi, announced at an interactive session with newsmen at the nation’s capital, Abuja on Tuesday. He noted that already, the National Council on Privitisation has commenced work on the partial commercialisation of NIPOST, adding that the Bureau of Public Enterprises (BPE) has also appointed a world class advisor to realise the objective. He also added that as part of plans to ensure total turnaround of

By Adedapo Adesanya Jumia Technologies recorded a 21 per cent growth in its Gross Merchandise Value (GMV), which shows the total sales monetary value for merchandise sold through a particular marketplace over a certain time frame, in the second quarter of the year as the metric jumped to $271.1 million compared to $223.5 in the same period last year. This was announced today in its financial results for the second quarter ended June 30, 2022. Revenue also grew 42.5 per cent to $57.3 million from $40.2 million while it raked in a gross profit of $30.4 million from $26.8 million,

By Adedapo Adesanya The European Union (EU) has offered postgraduate scholarships to over 200 young Nigerians in top European universities under its flagship educational programme, Erasmus+. The figure represents a steep increase from the number of Nigerians that benefited from the initiative last year. The number of Nigerians selected for the Erasmus Mundus Joint Masters Degree Scholarships has quadrupled in the last four years, rising from 44 awardees in 2019; 93 in 2020; 133 in 2021 to the record number of over 200 awardees in 2022. It also places Nigeria second among countries with the highest number of students selected

By Adedapo Adesanya VFD Group Plc, an investment firm headquartered in Lagos, has been named the 2021 Most Innovative Investment Company in Nigeria by the International Finance Magazine (IFM). IFM is a premium business and finance magazine published in the United Kingdom. It announced the Nigerian firm as winner of the award category at the recently concluded 2021 International Finance Award held in Dubai. VFD Group was chosen as the winner over other nominees, including Investment One, Asset & Resource Management Holding Company, and CardinalStone Partners Limited. According to IFM, the award recognises the Group’s industry talent, leadership skills, industry

While climate change has been at the forefront of global discussions recently, the conversations around sustainable edtech are not mainstream. Nonetheless, the effects of climate change can have a direct impact on education and need more attention in the education sector. Concern Worldwide US describes climate change as one of the biggest threats to education. It is an apt description because extreme weather conditions result in the destruction of school buildings and other infrastructures that the school system relies on. Even when schools are not directly affected by extreme weather conditions, school buildings are still useful for housing others displaced

By Modupe Gbadeyanka Leading global Information and Communications Technology (ICT) solutions provider, Huawei, has launched an ICT centre in a secondary school in Lagos. The project, initiated by Mr Ebube Oti, a member of the National Youth Service Corps (NYSC), was financed by Huawei Technologies Nigeria Limited. At the unveiling ceremony held last week, Public Relations Manager for Huawei Technologies Nigeria Limited, Mrs Fancy Feng Hongjuan, disclosed that Huawei saw the project as an opportunity to leverage on the Lagos State initiative for Digital and ICT Libraries in state schools. She explained that Huawei refurbished the school’s ICT Centre with

By Dipo Olowookere The management of Nigeria’s leading electricity distribution company, Ikeja Electric Plc, has announced the promotion of 299 employees across various job grades in the business, while employing over 500 new staff in the last one year. This is in line with the firm’s commitment to reward productivity and also bolster efficiency within the organization. A statement released by the electricity company explained that the promotions cut across both junior and senior staff cadres in various departments of the company’s Head Office and its six Business Units. A breakdown of the list showed in the senior cadre, 13